Kitchen remodels on the rise from 2010

HACKETTSTOWN, NJ — The National Kitchen & Bath Association (NKBA) released the results of the Kitchen & Bath Market Report for the third quarter of 2011, reflecting a rise in showroom traffic and an increase in kitchen remodels from one year ago. Although the number of bathroom remodels declined from the second quarter, results show a significant increase over the bathroom sales of a year ago.

“Although optimism seems to be taking a hit, the numbers today from a year ago are encouragingly higher, ranging in increase from 4 to 85% higher on various points,” stated Bill Darcy, Executive Vice President of the NKBA. “The volatility of the third quarter is balanced by the overall increased consumer traffic, sales volume and remodeling prices in the past year.”

The NKBA Kitchen & Bath Market Index (KBMI), which measures the confidence of kitchen and bath dealers on a scale of -60 to +60, is at +9 for the third quarter, showing that kitchen and bath dealers expect only slight growth in the market through the following quarter.

The NKBA KBMI is determined by averaging expectations of NKBA member kitchen and bath dealers during the next quarter based on expected increases (+1), decreases (-1) or no change (0) in each market condition. That total is divided by the number of dealers surveyed and multiplied by 10, which gives the KBMI a range of -60 (pessimistic) to +60 (optimistic). The NKBA KBMI surveys approximately 150 kitchen and bath dealers across North America each quarter, and the results are as follows:

Showroom visits

• Up 8% from previous quarter; up 42% from previous year

• 33% anticipate an increase in Q4; 14% anticipate a decrease

 

Kitchen remodel sales

• Volume is down 6% from previous quarter; up 36% from previous year

• 36% anticipate an increase in Q4; 13% anticipate a decline

 

Kitchen remodeling prices

• Up 7% from previous quarter; up 16% from previous year

• 14% anticipate an increase in Q4; 14% also anticipate a decline

 

Bathroom remodel sales volume

• Down 9% from previous quarter; up 85% from previous year

• 35% anticipate an increase; 10% anticipate a decline

 

Bathroom remodeling prices

• Up 30% from previous quarter; up 16% from previous year

• 18% anticipate an increase; 9% anticipate a decline

 

Kitchen and bath revenue

• Up 4% from previous quarter; up 69% from previous year

• 32% anticipate an increase; 15% anticipate a decline

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